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Daily brief · Monday, July 13, 2026

Gold and silver slid as higher-for-longer rates talk firmed; platinum held up

Gold closed at $4,039.75 an ounce (-1.45%) and silver at $58.39 (-1.61%), with both pressured by talk of higher-for-longer U.S. interest rates as yields rose. Platinum ended at $1,625.80 (+0.45%) while palladium finished at $1,272.45 (-0.16%).

AI summaryWritten automatically with AI from 9 linked reports and our own price data, Oct 21, 2:50 AM ET. Each point links to its sources. Published without an editor’s review; not investment advice. How this page is made

Closing prices for July 13, 2026

Gold $4,039.75 −1.45% 30d −3.5% Silver $58.39 −1.61% 30d −12.9% Platinum $1,625.80 +0.45% 30d −4.6% Palladium $1,272.45 −0.16% 30d −0.9%

Tone of the reports: Mixed

What happened

  1. Reuters reported gold extended its decline as Middle East tensions reinforced a “higher-for-longer” interest-rate outlook, a backdrop that tends to weigh on non-yielding metals.

    SourcesReuters: Gold extends decline as Middle East tensions bolster higher-for-longer rate view

  2. Reuters reported Fed Governor Christopher Waller said higher interest rates may still be needed in the “near term,” reinforcing the idea that rates could stay restrictive.

    SourcesReuters: Fed's Waller says higher rates possibly needed in 'near term'

  3. Kitco’s AM Report said gold and silver fell as a Hormuz-related oil shock pushed yields higher, which can reduce the appeal of holding bullion versus interest-bearing assets.

    SourcesKitco News: Gold and silver slide as Hormuz oil shock lifts yields - Kitco AM Report

  4. Heraeus told Kitco that precious metals prices slid and that Perth Mint silver bar and coin demand has “collapsed,” highlighting soft retail demand for physical silver in that channel.

    SourcesKitco News: Precious metals prices slide amid renewed Gulf strikes, Perth Mint silver bar and coin demand collapses – Heraeus

  5. Kitco reported Sprott’s Paul Wong said gold is becoming a reserve asset in a new multipolar world, framing bullion demand as strategic rather than purely cyclical.

    SourcesKitco News: Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong

  6. Kitco reported Abrdn’s Minter said bullion is now a structurally important asset, arguing for a more durable role for gold in portfolios.

    SourcesKitco News: Abrdn’s Minter says bullion is now a structurally important asset

Bull vs bear

The arguments the day’s reports made for each direction. We list them side by side; we don’t pick one.

The case for higher prices

The case for lower prices

Metal by metal

Gold $4,039.75 −1.45%

Reuters tied gold’s decline to a reinforced higher-for-longer rate view, and Kitco also pointed to higher yields as a headwind. Separately, Kitco highlighted longer-term support arguments from Sprott and Abrdn that frame gold as a strategic reserve/structural asset.

Gold headlines

Silver $58.39 −1.61%

Heraeus (via Kitco) flagged a collapse in Perth Mint silver bar and coin demand, and Kitco also pointed to higher yields weighing on precious metals broadly.

Silver headlines

Platinum $1,625.80 +0.45%

No report focused on platinum.

Platinum headlines

Palladium $1,272.45 −0.16%

No report focused on palladium.

Palladium headlines

The day’s reports

12 reports, most important first, New York time.

  1. 6:32 PM Reuters · 6:32 PM EU announces restrictions on trading Sudanese gold The EU announces restrictions on trading Sudanese gold.
  2. 12:36 PM Reuters · 12:36 PM Fed's Waller says higher rates possibly needed in 'near term' Fed's Waller says higher interest rates may still be needed in the near term.
  3. 11:20 AM Kitco News · 11:20 AM▼ Reports a fall Precious metals prices slide amid renewed Gulf strikes, Perth Mint silver bar and coin demand collapses – Heraeus Heraeus says precious metals prices slide while Perth Mint silver bar and coin demand collapses.
  4. 9:26 AM Reuters · 9:26 AM▼ Reports a fall Gold extends decline as Middle East tensions bolster higher-for-longer rate view Gold extends its decline as Middle East tensions reinforce a higher-for-longer rate outlook.
  5. 8:56 AM Kitco News · 8:56 AM▼ Reports a fall Gold and silver slide as Hormuz oil shock lifts yields - Kitco AM Report Kitco says gold and silver fell as a Hormuz oil shock pushed yields higher.
  6. 6:41 PM Reuters · 6:41 PM Heavy-handed revenue enforcement a threat to Congo mining sector, warns president Reuters reports Congo's president warns that heavy revenue enforcement could threaten the country's mining sector.
  7. 3:56 PM Kitco News · 3:56 PM Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong Sprott's Paul Wong says gold is becoming the reserve asset of a new multipolar world.
  8. 3:39 PM Kitco News · 3:39 PM Abrdn’s Minter says bullion is now a structurally important asset Abrdn's Minter says bullion is now a structurally important asset.
  9. 11:39 AM Kitco News · 11:39 AM Bank of America sees value in gold miners even after cutting 2026 gold price forecast Bank of America sees value in gold miners even after cutting its 2026 gold price forecast.
  10. 9:32 AM Reuters · 9:32 AM Bank of Canada set to hold rates as a rebound in growth offsets inflation worries The Bank of Canada is expected to hold rates as stronger growth offsets inflation worries.
  11. 9:09 AM Reuters · 9:09 AM▲ Reports a rise Trend funds propped up by gold and silver in June, Societe Generale says Reuters says trend funds were supported by gains in gold and silver in June, according to Societe Generale.
  12. 5:56 PM Reuters · 5:56 PM Mapping the market: Metals and mining shares may be perking up Reuters says metals and mining shares may be starting to perk up.

How this page is made

Collected every hour. Summed up twice a day. Linked to the source.

Where the news comes from

  • Reuters and Dow Jones headlines for gold, silver, platinum and palladium, through TradingView
  • Kitco News and MetalsDaily
  • The World Gold Council
  • Google News, for wider coverage
  • A daily AI web search for anything the feeds missed

How the briefs are written

Every hour we collect new headlines. An AI model from OpenAI tags each one by metal, topic and importance and writes a one-line summary from its headline and teaser. It doesn’t read paywalled articles. On weekdays at about 8 AM and after the 5 PM New York close, it writes a brief from the most important reports and our own spot price feed. Every point cites the reports it came from. On Fridays it writes a recap of the week.

Who publishes it

Bullion Trading LLC is a physical precious metals dealer in New York’s Diamond District, in business since 2008. Prices on this page come from our own live feed and LBMA history. We buy and sell bullion, so read the briefs as market context, not investment advice. Briefs are published automatically, without an editor’s review. If you spot an error, tell us.

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